Taiwanese businessman launches multi-billion case against RBS and former boss Goodwin

A bankrupt Taiwanese businessman has launched a lawsuit in Singapore against Royal Bank of Scotland.

Shipping magnate Nobu Su alleges that between 2007 and 2009, the Edinburgh-based bank and then chief executive Fred Goodwin syphoned billions of dollars from his accounts.

Mr Su claims the bank, Goodwin, and other senior RBS employees “breached their fiduciary duties to the bank and were negligent in protecting his business interests”.

It is understood that a figure of $3.6 billion (£2.5bn) was allegedly removed from his account without him giving permission.

Mr Su says that Goodwin, who had his knighthood removed over his role in the bank’s near-collapse in 2008, along with two members of staff who held senior posts at the time of the alleged wronging, conspired to “injure Mr. Su by unlawful means”.

In his claim, Mr. Su tells of how “RBS fraudulently misled him of his true commercial position and consistently issued inaccurate statements with improper and erroneous margin requirements, resulting in considerable loss and damage to his business interests”.

According to the businessman, the defendants made remittances and transfers on a number of occasions for their own purposes without his consent.

The claim names the defendants as: The Singapore claim names the defendants as The Royal Bank of Scotland PLC (trading as RBS Greenwich Futures); The Royal Bank of Scotland PLC (Singapore Branch); Fred Goodwin; Neena Birdie; and Marie Chang.

RBS did not comment.